LATHAM, N.Y., April 25, 2024 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, has signed two additional contracts to deliver Basic Engineering and Design Packages (BEDP) for projects in Europe and the U.S. with a combined capacity of up to 350 megawatts (MW) of electrolyzers. These agreements enhance Plug's overall BEDP portfolio, bringing the company's total amount of global BEDP contracts to 4.5 gigawatts (GW).
Since introducing the BEDP offer just two years ago, Plug's electrolyzer business has experienced continued growth. Earlier this year, Plug finalized a 500MW contract in Europe, and with the addition of this 350MW contract, the company has now closed 850MW of BEDP contracts in just four months. Plug's ability to scale its electrolyzer business demonstrates its expertise in Proton Exchange Membrane (PEM) technology and liquid hydrogen plants, being the sole electrolyzer OEM supplier constructing green hydrogen plants. Plug has commissioned the largest 15TPD electrolytic liquid hydrogen production plant and the largest PEM electrolyzer deployment in the U.S.
"Drawing from over 50 years of experience in our electrolyzer business, our industry expertise stands unrivaled," said Plug CEO Andy Marsh. "Within just three years, we've significantly scaled our business and have successfully shipped and deployed electrolyzers across five continents. This rapid expansion is strong evidence of our engineering, manufacturing, and execution capabilities."
"Electrolyzer sales present a substantial business opportunity for us," said Plug General Manager of Energy Solutions and Chief Strategy Officer Sanjay Shrestha. "Our impressive BEDP growth in just two years underscores our strong industry positioning and market growth."
Capitalizing on its state-of-the-art ...